Wells Fargo & Co Reiterates “$48.00” Price Target for L Brands (LB)
Wells Fargo & Co set a $48.00 price objective on L Brands (NYSE:LB) in a research report released on Thursday, January 4th. The brokerage currently has a hold rating on the specialty retailer’s stock.
A number of other analysts have also recently commented on LB. Scotiabank reissued a hold rating and issued a $67.00 price target on shares of L Brands in a research report on Wednesday, November 22nd. Sanford C. Bernstein reissued an outperform rating and issued a $57.00 price target on shares of L Brands in a research report on Monday, September 18th. FBR & Co reissued a buy rating and issued a $58.00 price target on shares of L Brands in a research report on Wednesday, October 4th. B. Riley set a $58.00 price target on L Brands and gave the stock a buy rating in a research report on Thursday, November 16th. Finally, Barclays started coverage on L Brands in a research report on Tuesday, September 19th. They issued an equal weight rating and a $41.00 price target on the stock. Six analysts have rated the stock with a sell rating, twenty have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $51.86.
Shares of L Brands (NYSE LB) opened at $52.11 on Thursday. The company has a current ratio of 1.45, a quick ratio of 0.60 and a debt-to-equity ratio of -5.10. The firm has a market capitalization of $14,710.00, a P/E ratio of 15.89, a price-to-earnings-growth ratio of 1.46 and a beta of 0.81. L Brands has a 12-month low of $35.00 and a 12-month high of $63.10.
In related news, Director David T. Kollat bought 9,910 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was acquired at an average cost of $50.34 per share, for a total transaction of $498,869.40. Following the purchase, the director now owns 158,878 shares in the company, valued at $7,997,918.52. The acquisition was disclosed in a filing with the SEC, which is available through this link. 16.68% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. grew its position in shares of L Brands by 14.3% during the 2nd quarter. Victory Capital Management Inc. now owns 95,421 shares of the specialty retailer’s stock valued at $5,142,000 after acquiring an additional 11,967 shares during the period. Fosun International Ltd grew its position in shares of L Brands by 205.4% during the 3rd quarter. Fosun International Ltd now owns 532,022 shares of the specialty retailer’s stock valued at $22,137,000 after acquiring an additional 357,797 shares during the period. Bridgewater Associates LP grew its position in shares of L Brands by 16.5% during the 2nd quarter. Bridgewater Associates LP now owns 81,603 shares of the specialty retailer’s stock valued at $4,398,000 after acquiring an additional 11,570 shares during the period. Alyeska Investment Group L.P. grew its position in shares of L Brands by 4.0% during the 3rd quarter. Alyeska Investment Group L.P. now owns 855,019 shares of the specialty retailer’s stock valued at $35,577,000 after acquiring an additional 33,005 shares during the period. Finally, Pring Turner Capital Group Inc. bought a new stake in shares of L Brands during the 2nd quarter valued at $2,689,000. Institutional investors and hedge funds own 78.65% of the company’s stock.
L Brands Company Profile
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care, beauty and home fragrance categories. Its segments include Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. It sells its merchandise through company-owned specialty retail stores in the United States, Canada, the United Kingdom and Greater China, which are mall-based; through Websites, and through international franchise, license and wholesale partners.
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